plate export market lost further ground this past week as
buyers remained scarce and more mills reduced their list
commercial-grade, boron-containing plate were at $520 to $525
per tonne f.o.b. for July shipment May 22, down $5 per tonne
from AMM sister publication Steel
Firsts price assessment of $525 to $530 per tonne
f.o.b. May 17.
Base export offers for the
product also dropped by $10 per tonne to $530 to $540 per tonne
f.o.b. for the same shipment period.
"The further decrease in list
prices allowed steelmakers to set lower export prices," a
trader in Shanghai said.
Three plate producers, including
Taiyuan Iron and Steel (Group) Co., reduced their list price
for the product by 50 to 70 yuan ($8 to $11) per tonne May
Business is still slow, with
many mills struggling to close deals.
"It is not easy to conclude
business despite lower prices," an export manager for a
steelmaker in northern China said. However, room for further
price drops will be limited as producers are unwilling to sell
at a loss, he said.
Instead, most plate producers
have been cutting output in an attempt to shore up the
Domestic plate prices in China
fell further this week, deflating sentiment.
In Shanghai, 14- to 20-mm plate was trading at 3,610 to
3,620 yuan ($583 to $585) per tonne May 22, down 10 to 20 yuan
($2 to $3) from Steel Firsts previous assessment
and 40 to 60 yuan ($6 to $10) per tonne lower than a week
A version of this article was first
published by AMM sister publication Steel